LATEST FINANCIAL NEWS

Summer Statement

The Chancellor, Rishi Sunak continued with his campaign to support the business and jobs community today, 8 July 2020, as firms engage with the disruption caused by the coronavirus outbreak and the

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Tax Credits updates required this month

Families and individuals that receive tax credits should ensure that they review their tax credit claims by 31 July 2020. Claimants who do not inform HMRC about relevant changes in their circumstances

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Reminder of businesses opening since 4 July 2020

A reminder that since 4 July 2020, many business sectors have been given permission to reopen in England. The businesses are expected to follow COVID-19 secure guidelines. The categories of

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Reminder of businesses not opening 4 July 2020

There are business sectors that have not yet been given permission to reopen in England. There has been no indication given as to when these businesses will be able to reopen. Government guidance

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UK VAT claims by non EU businesses

There are special rules for businesses established outside the EU submitting a claim for VAT incurred on goods or services bought in the UK. The exact rules that determine what VAT is refundable can

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Finance Bill 2020 progress

The government’s Finance Bill 2020 (formally known as Finance Bill 2019-21) has now completed its passage through the House of Commons and the 1st reading at the House of Lords took place on 2

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SEISS further update

HM Treasury has published a further Treasury Direction made under the Coronavirus Act 2020, ss. 71 and 76, which modifies and extends the effect of the Self-Employment Income Support Scheme

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Corporate Insolvency and Governance Bill receives Royal Assent

The Corporate Insolvency and Governance Act 2020 (the Act) received Royal Assent, with most provisions coming into force on 26 June 2020. The Act addresses numerous issues arising for businesses from

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Reclaiming VAT after deregistration

Businesses can close a VAT registration for two main reasons. For example, the business has stopped making taxable supplies or a voluntary deregistration can be made by businesses that does not expect

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Redundancy process map

Acas has published a process map for employers who are having to consider making redundancies due to coronavirus. The interactive tool has been designed to help employers better understand redundancy

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The new reality

It may be some time before we could state with some certainty that it was back to business as usual; usual being the business environment before the arrival of Coronavirus. What has changed? The

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What is working capital?

Accountants would say that working capital is the difference between current assets and current liabilities. It is the capital of a business used in day to day trading operations. Current assets are

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